The Descartes Systems Group Inc. $DSGX Stock Position Lifted by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 106.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 40,341 shares of the technology company’s stock after purchasing an additional 20,808 shares during the quarter. Quantinno Capital Management LP’s holdings in The Descartes Systems Group were worth $2,887,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new stake in shares of The Descartes Systems Group in the 1st quarter valued at approximately $207,000. OMERS ADMINISTRATION Corp acquired a new position in shares of The Descartes Systems Group during the 1st quarter worth $578,000. Granahan Investment Management LLC raised its holdings in shares of The Descartes Systems Group by 66.2% during the 1st quarter. Granahan Investment Management LLC now owns 55,253 shares of the technology company’s stock valued at $3,954,000 after purchasing an additional 22,016 shares in the last quarter. Entropy Technologies LP raised its holdings in shares of The Descartes Systems Group by 18.3% during the 1st quarter. Entropy Technologies LP now owns 18,881 shares of the technology company’s stock valued at $1,351,000 after purchasing an additional 2,921 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of The Descartes Systems Group by 18.7% in the 1st quarter. Renaissance Technologies LLC now owns 798,844 shares of the technology company’s stock valued at $57,165,000 after purchasing an additional 125,900 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company’s stock.

Wall Street Analyst Weigh In

DSGX has been the topic of several analyst reports. Rothschild & Co Redburn raised shares of The Descartes Systems Group from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $100.00 to $90.00 in a research report on Thursday, April 16th. National Bank Financial set a $95.00 price target on The Descartes Systems Group and gave the stock an “outperform” rating in a research note on Monday, July 20th. Canadian Imperial Bank of Commerce increased their price objective on The Descartes Systems Group from $116.00 to $118.00 and gave the company an “outperformer” rating in a report on Thursday, June 4th. Raymond James Financial cut their price objective on The Descartes Systems Group from $118.00 to $108.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Finally, Weiss Ratings upgraded The Descartes Systems Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.54.

The Descartes Systems Group Stock Performance

NASDAQ DSGX opened at $79.57 on Monday. The Descartes Systems Group Inc. has a twelve month low of $62.56 and a twelve month high of $109.00. The stock has a market capitalization of $6.82 billion, a PE ratio of 39.78 and a beta of 0.62. The stock has a 50-day simple moving average of $72.68 and a 200 day simple moving average of $71.53.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last released its earnings results on Wednesday, June 3rd. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $166.96 million for the quarter, compared to analyst estimates of $193.57 million. The Descartes Systems Group had a return on equity of 11.17% and a net margin of 23.35%.The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. As a group, equities research analysts forecast that The Descartes Systems Group Inc. will post 2.37 EPS for the current fiscal year.

About The Descartes Systems Group

The Descartes Systems Group Inc (NASDAQ: DSGX) is a global provider of cloud-based logistics and supply chain management solutions. The company’s software-as-a-service platform connects and optimizes the flow of goods, information and payments across the global supply chain, helping businesses coordinate transportation, customs clearance, routing, scheduling and fleet management. Descartes’ modular applications serve shippers, carriers, third-party logistics providers and regulatory authorities by enabling real-time visibility, compliance and execution across complex trade networks.

Headquartered in Waterloo, Ontario, Descartes was founded in 1981 and has grown through a combination of organic development and strategic acquisitions.